Germantown Crossing

Germantown Crossing

Property is 100 Percent Leased

All Leases are NNN
All Tenants are Internet Resistant

507 Jubilee Lane, Germantown Hills, IL 61548

Request Offering Memorandum

Market Summary

Price                                   $1,253,500

Cap Rate                            7.75%

NOI                                     $97,148

Rentable SF                       11,033 SF

Price per SF                       $113.61

Year Built                            1996

Lot Size                               2.18 Acres

Description

Marcus & Millichap is pleased to present Germantown Crossing shopping center in Germantown Hills, Illinois. The four-tenant center is next door to the local Ace Hardware and Dollar General. Germantown Hills is a bedroom community in the Peoria, Illinois metropolitan statistical area.

The property's signature tenant is Anytime Fitness with a lease that expires in 2029. Recently, a tenant moved out and the Liquor Shoppe took over the space to open a video gaming parlor. These are very difficult licenses to get, provide a very stable revenue strip and they are hard to relocate due to state statute.

The owner of the center owns all of the parking spaces in front of the building and Dollar General has a cross easement agreement to use the spaces as well. Dollar General also reimburses expenses, electrical, and taxes for the parking lot.